All Forum Posts by: Account Closed

I used to sign one or two years lease with new tenants, but no longer offering it anymore. After several instances, I only offer 6-month lease for new tenants, then it will be month-to-month 6 months later. If anything happens like this, I can send a 30-days move-out notice. My lease agreement has a clause that, the tenant accept the house current as-if condition. If the tenants keep complaining, I would offer the tenant an option to terminate the lease mutually early without penalty. Prepare a termination agreement that both parties agree to terminate it early without any penalties. If the tenant do not take this option, seek help from an attorney.

Agreed with @Max Gra I'm one of those 50 investors who take action very quickly once I see something I want.

I have another two different units, both tenants are clean and neat, but both of them always pay rent late for about 5 to 7 days with late fee. I will NOT renew their leases when their leases are expired in 7 and 10 months respectively.

My ideal tenants are clean, neat, and pay rent on time. Note: My properties are class B+/A- properties in class B+/A- areas.

Four months ago, I inherited two tenants in two units about the same time. I had a brief conversation with them while sign the new month-to-month lease under our names immediately after the escrow. I checked around the properties condition on the same date. I waited one month to see if they pay rent on time. Two months after close of escrow, I raised rent (from $650 to $800) to one tenant whom I want to keep. He is very clean, neat, and pay rent on time. He accepted my new raised rent offer. I sent a 30-days move-out notice to another tenant whom I do not want to keep. Dirty, smoke inside the property, property has strong smell of cigarettes. After the smoker moved out, I renovated and raised the rent (from $800 to $925), rent it to a high income high credit score, clean and neat tenant. Keep it or not, depends if the tenant is your ideal tenants or not.

High income good quality renter may pass your rental because of the "white range".

I always change all appliances to stainless steel even though the white appliances are still working good. Then increase the rent. Good looking match kitchen can have a higher rent with more quality tenants.

Certainly 20% is better, so you can use the extra $4500 as part of the down payment to purchase the next investment property.

@Rebecca McKenna-Inman 

I heard that plenty of investors on BP, include myself, very interested in buying 4-plex in Las Vegas better areas.   

Due to the lack of 4-plex in better areas in Las Vegas, if there is a builder find a land and build 4-plexes in better Las Vegas areas, I believe there would have a strong demand.  

Hi @Rebecca McKenna, Will your developer family help client build a 4-plex ? If so, usually how much per sq ft to build a 4-plex in a better areas like Henderson/Summelin? Thanks